US: Annual core PPI rises to 2.9% in September vs 2.5% expected

"The Producer Price Index for final demand increased 0.2 percent in September, seasonally adjusted," the U.S. Bureau of Labor Statistics announced on Wednesday.

Key takeaways from the press release

• The index for final demand less foods, energy, and trade services moved up 0.4 percent in  September, the largest rise since a 0.5-percent increase in January.
  • For the 12 months ended in September, prices for final demand less foods, energy, and trade services advanced 2.9 percent.
• In September, over one-third of the advance in prices for final demand services can be traced to the index for airline passenger services, which rose 5.5 percent.
• Leading the September decline in the index for final demand goods, gasoline prices fell 3.5 percent.